Bank Account FAQs
Accepting payments is the core of running your business with Square, so it’s imperative to Square that we get you your money quickly. Below are the most common questions from merchants when linking or editing their bank account with Square. Please review the information below if you’re having trouble linking or editing your bank account.
How do I see which bank account I have linked to Square?
View your linked bank account from your online Square Dashboard. We’ll also send you an email confirming any deposits, which will include the last three digits of the account we sent funds to.
How do I edit my bank account?
Can I accept payments with Square before I have a linked bank account?
Yes! You’ll be able to accept payments through your Square account while you’re waiting for your bank account to verify. Any payments you accept during this time will remain in your Square balance until your bank account is linked. Once the verification process is complete, Square will send all funds in your Square balance to your bank account within 36 hours.
What if I’m updating my linked bank account?
We’ll continue to send deposits to your currently linked account until your new bank account is verified. If you’d like to unlink your current bank account, contact us. This will allow your deposits to remain in your Square balance until your new account is verified.
Can I link a prepaid bank account to Square?
No. Square requires a transactional bank account that allows for deposits and withdrawals (in case of refunds or chargebacks). Prepaid cards or online-only accounts, like PayPal, aren’t supported.
Can I link a foreign bank account to my UK Square account?
No, the bank account linked to the Square account needs to be set up in British Pounds, have an account number and a sort code.
What is Square’s bank linking process?
You can choose to link a transactional bank account to your Square account during account creation or at a later time from your online Square Dashboard. Once you provide Square with your bank information, we’ll verify that the bank account is transactional, which will allow for deposits and withdrawals to the account. Learn more about linking your bank account.
How long will it take to receive my first deposit?
The bank account linking can take up to 4 working days. After your account is fully verified, we’ll send funds according to Square’s Next Working Day deposit schedule. Learn how to check your bank verification status.
While you can accept payments before linking your bank account, linking your bank account in advance of accepting payments with Square ensures Square can send funds to your bank account the next working day.
What is Square’s deposit schedule?
With Square’s deposit schedule, card payments are usually sent to your bank account next working day at 4 PM. If you’ve set a custom close of day time, or accepted payments on Friday or Saturday, funds are sent the Monday after. Learn about Square’s deposit schedule.
Why don’t I see a recent deposit in my bank account?
If your bank account is linked and completely verified, you should see deposits in your bank account within 1 working day. If you recently set a customised close of day schedule, you should see deposits in your bank account within 2 working days. Check your online Square Dashboard to see if we’ve sent your deposit, or read more about locating deposits.
Why did my bank verification fail and what should I do about it?
Bank verification can fail for a number of reasons:
- Your bank account is non-transactional and we can’t deposit to, and debit from, it.
- There was a typo entered when you input your bank information. If you sent funds to a typo’d bank account, contact Square Support.
How do I link different bank accounts to each of my business locations within a single Square account?
- Visit Locations in your online Square Dashboard.
- Select a location. Under Bank Accounts, click Change Bank Account and enter the requested information or select from the list of previously linked bank accounts.
- Click Verify Account.